Purchased as a 4,960 square foot four-bedroom home for $5,150,000 in late 2005, and since remodeled to become a 5,900 square foot home with three bedrooms and seven baths, 2209 Pacific Avenue has returned to the market listed for $9,500,000 in 2011.
According to permits filed for the project and from which fees would have been billed, it was an estimated “$150,000” remodeling job, a budget that probably wouldn’t have covered the cost of the new kitchen, and perhaps not even the new theater below.UPDATE: While the estimated remodeling costs per permits were “$150,000,” according to the now live property website “close to $4 million dollars” in improvements have been made to the property. It’s funny how that happens.
∙ Listing: 2209 Pacific Avenue (3/7) 5,900 sqft – $9,500,000 [MLS]

I toured this house when it was on the market originally. I left sort of unimpressed. Even though had a lot of developable space behind the garage, I can’t imagine why they think it’s worth 9.5 million after the remodel. Unfortunately, the 3362 Jackson St. sale is going to inspire some majorly inflated price tags.
Negatives: South side of the street, east of Fillmore, and only the south side of this block contains SFRs. You’re facing a lot of bland apartments and condos. Plus, Alan Pinel agents don’t have the best track record in Pac Heights. Personally, I didn’t love the kitchen layout; it looks the same here. There wasn’t a lot of privacy because many of the west facing windows look right into main rooms of the neighboring house.
Pluses: It has a great facade and it’s on a nice flat block which is an easy walk to Fillmore. I’ve always liked that garage door.
Anyway, I just don’t get it… You could’ve bought a much nicer home for so much less, so I have to roll my eyes at all of this. The 3362 sale was an anomaly. A real comp is 3659 Washington. It’s larger, and is situated on a gorgeous, super-exclusive block in Presidio Heights. It was also remodeled and sold for a comparatively reasonable 6.65 million.

UPDATE: While the estimated remodeling costs per the permits and from which permit fees would have been calculated were “$150,000,” according to the now live property website “close to $4 million dollars” in improvements have been made to the property.

What’s funny is that anyone would use either city data or agent comments as a basis for reality. What do the permits say for 3362 Jackson? Anyone that wants this information can just ask for a detailed list of items performed. The asking price here is very far off. the ~5900 square feet includes converted basement / attic space and there is no view. I’d be surprised if this gets $1100/psf. I’ll go with an optimistic 1050 which would put this @ about $6.2ish.
The house a few doors down that sold, came back as a project, didn’t sell, and is now in some continued state of development struggled here as well.

the city uses basic costs per sq ft to estimate fees, e.g. $11K to do a bathroom. if you spend $30-40K on your bathroom you still only pay the fee on the base cost. same for the kitchen and everything else.
permit fee estimates should only be used for median range housing not upper tier.

$9.5 is a joke, who ever this is either has no clue or is getting extremely poor advice from Alan Pinel. It is going to be funny watching this thing just sit and rot on the market. Good luck
trying to get anywhere above $6M for just another Pac Hts edwardianish box with no views and on the WRONG side of the
street !!!

@jose, I really wish that were true but you are giving the minimum for people who come in and say they are going to do the bath for $2k. If you say the remodel is going to be $150k for your bath, they will use that number.
Permit fees for $4M job:
Building – $26,333
Planning – $11,290
Wow, $37,623 to pull that permit, fun!

You can always tell there is a problem with properties like this when the listing agent doesn’t show a North bay view, instead they show a “lovely” shot of some dumb fountain in the backyard, no North bay views, no chance…..it ain’t gonna happen for that price.